Welspun Enterprises has leased over 4.5 lakh sq ft of office space in Pune’s Hinjewadi at Radius IT Park under a five-year agreement. The deal, with monthly rent exceeding ₹1.25 crore, highlights strong demand for large office spaces and reinforces Pune’s position as a key commercial real estate hub.
Welspun Enterprises has secured over 4.5 lakh square feet of office space in Pune’s Hinjewadi, marking one of the city’s largest leasing transactions this year. The deal reflects sustained demand for large-format office spaces in established IT corridors, even as companies continue to refine their long-term workplace strategies.
The space has been leased at Radius IT Park, a prominent commercial development within the Hinjewadi IT cluster. The agreement, signed with Indo Global Soft Solutions & Technologies, commenced on April 1 and spans multiple floors within the project.
Deal Structure and Financials
The transaction covers a chargeable area of approximately 457,500 square feet, with over 3.29 lakh square feet of carpet area. The office space is distributed across a ground-plus-seven-floor structure, offering a campus-style environment suited for large teams and integrated operations.
The lease has been signed at a starting rental of ₹27.5 per square foot per month, resulting in a monthly outflow of more than ₹1.25 crore. The agreement is structured for a five-year tenure, with an annual escalation clause of 5%, indicating steady rental growth expectations in Pune’s Grade A office segment.
Hinjewadi Continues to Attract Large Occupiers
Hinjewadi remains one of India’s most active office micro-markets, driven by its strong ecosystem of technology parks, skilled talent pool, and competitive rental pricing. Compared to markets like Bengaluru and Mumbai, Pune offers a cost advantage while maintaining access to high-quality infrastructure.
The corridor has consistently attracted occupiers from the technology and Global Capability Centres sectors, and is now increasingly attracting occupiers from the infrastructure and engineering sectors. Welspun’s entry into this market further diversifies the tenant base and reinforces Hinjewadi’s appeal as a multi-sector business hub.
Demand for Scale and Long-Term Leases
The deal highlights a broader trend in the office market, where companies are prioritising scale, operational efficiency, and long-term stability. Large, contiguous office spaces are gaining traction as occupiers look to consolidate teams and build integrated work environments.
Industry experts note that such transactions indicate a shift towards campus-style developments, where companies can design customised workplaces aligned with their operational and cultural requirements.
Pune’s Rising Position in India’s Office Market
Pune has steadily emerged as a key commercial real estate destination over the past few years. The city’s growth is supported by its strong talent base, improving infrastructure, and relatively lower occupancy costs compared to other metro cities.
Hinjewadi, in particular, accounts for a significant share of leasing activity, driven by continuous demand from both domestic and global companies. The Welspun deal adds to a series of large transactions in the region, further strengthening its position in India’s office market landscape.
Outlook: Sustained Momentum Ahead
As businesses continue to expand and optimise their office footprints, markets like Pune are expected to remain in focus. The combination of affordability, scalability, and talent availability makes the city an attractive choice for long-term investments in office space.
The Welspun transaction underscores how occupiers are moving beyond short-term decisions and committing to strategic, long-term leases in established corridors. With demand for Grade A assets remaining strong, Hinjewadi is likely to see continued leasing momentum in the coming quarters.
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